) will pay up to $700 million to settle claims it broke the law with a massive 2017 data breach and to repay harmed consumers, in a landmark settlement that could spur new consumer data rules.
Roughly 147 million people had personal information, including Social Security numbers and driver’s license data, compromised by the breach, one of the largest in history. The hackers have never been identified. “It’s a parking ticket, not a penalty,” said Ed Mierzwinski, a senior director at Washington-based U.S. Public Interest Research Group in an email, who added that consumers should not have to jump through hoops to receive compensation.
FILE PHOTO: Credit cards, a chain and an open padlock is seen in front of displayed Equifax logo in this illustration taken September 8, 2017. REUTERS/Dado Ruvic/Illutration The scandal sent the company into turmoil, leading to the exit of its then-chief executive, Richard Smith, and multiple congressional hearings as the company’s slowness to disclose the breach and security practices were challenged by lawmakers.
FILE PHOTO: Credit reporting company Equifax Inc. corporate offices are pictured in Atlanta, Georgia, U.S., September 8, 2017. REUTERS/Tami Chappell
TV Their CEO should go to jail 🇺🇸
TV How would anyone truly know if their data was breached? I never heard from them and didn't even bother contacting them because I knew it was futile. Futility
TV In other news, Jesus is expected back any day now, but nobody's, like, waiting up nights for him.
TV I'll take a million
TV I see more “free” credit monitoring offers in the future.
TV oh wow that's 7 dollars per person they turbofucked
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Equifax to pay $700 million over 2017 data breach, compensate consumersCredit-reporting company Equifax Inc will pay up to $700 million to settle U.S. ... What I don’t understand about all these huge settlements regarding invasion of consumer privacy, etc., is the consumer never sees a penny! It goes to the government - why? Wow! A whole $4.76 per person. That sure is going to make them change... /s CNBC jimcramer .. Serious question.. What would happen to the U.S. Economy if the 15O million people affected by the breach.. Each received one million dollars from the settlement?
Source: Reuters - 🏆 2. / 97 Read more »
Equifax Reaches $700 Million Settlement Over Data BreachEquifax struck a $700 million settlement to resolve investigations and lawsuits stemming from its 2017 data breach that exposed the personal data of nearly 150 million Americans. 😡Thanks for killing my future Equifax When am I getting my portion? This is unacceptable Equifax ! You should be paying me a premium for the privilege of using, selling and mismanaging my personal information especially my social security number!
Source: WSJ - 🏆 98. / 63 Read more »
Equifax exposed 150 million Americans' personal data. Now it will pay up to $700 millionCredit reporting agency Equifax has reached a deal to pay up to $700 million to state and federal regulators to settle probes stemming from a data breach that exposed the personal information of nearly 150 million people. So....150 million people can split the 700 million, right? Does that get distributed to those who were hacked? aquí solo expolian los gringos
Source: CNN - 🏆 4. / 95 Read more »
NPR Choice pageOh wow a whole 6 dollars per person, before the lawyers take their cut. What about beefing up their IT! BUT WILL THEY FIX OUR CREDIT REPORTS?
Source: NPR - 🏆 96. / 63 Read more »
Equifax to pay up to $700M in data breach settlementNEW: Equifax will pay up to $700 million to settle with Federal Trade Commission and others over 2017 data breach that exposed Social Security numbers and other private information of nearly 150 million people. So my info was compromised and credit possibly irrevocably damaged but it's cool cuz obey the FTC some change and nobody will go to jail. You want corporations to start behaving then C-level officers n boards need to go to jail when there is negligence or criminal activity Getting off easy And in the end, the winners were...the attorneys.
Source: ABC - 🏆 471. / 51 Read more »
What consumers should know about Equifax $700M settlementEquifax's $700 million settlement with the U.S. government over a massive 2017 data breach includes up to $425 million for consumers. None of it wo go to the people affected Government collects fines the consumer gets screwed. Fines should be divided amongst this consumers whose accounts were breached not given to govt to squander
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